A Translog Cost Function Analysis of U.S. Agriculture
Auteur : Charles Britt Moss, Kenneth W. Erickson, V. Eldon Ball, Ashok Kumar Mishra
Date de publication : 2003
Éditeur : University of Florida, Institute of Food and Agricultural Sciences, Food and Resource Economics Department
Nombre de pages : 8
Résumé du livre
Empirical models of factor demands have faced increasing scrutiny in recent years. A primary difficulty in these models has been the failure of long-run specifications to account for short-run dynamics. This study estimates the implications of these short-run dynamics using agricultural data for the United States. The results indicate that this dynamic specification improves the regularity of factor demands, but does not completely rectify difficulties in the concavity of the system of demand equations.